2018-19 Budget Year
July 16, 2018
On June 27, Gov. Brown signed the $139 billion 2018-19 California State Budget. This represents an $11.6 billion dollar increase over the revised 2017-18 budget and includes a total investment in Proposition 98 of $78.4 billion. Education fared well as evidenced by the full-implementation of the Local Control Funding Formula (LCFF) for K-12 two years ahead of schedule, additional slots for preschool, COLA for adult education, two one-time initiatives for classified employees, and additional money for the University of California system.
June 5, 2018
The May Revision maintains much of what the governor proposed in the January budget. Although tax collections exceeded what the governor projected in January, he continues to be prudent by focusing on building reserves and limiting any ongoing obligations. Based on the May Revision and the budget proposal put forth by the Assembly and the Senate, the Conference Committee published its final compromise which reconciles the differences and includes a number of modifications to the May Revision. The Legislature has until June 15 to pass a final proposal, and the governor has until June 30 to sign it.
January 29, 2018
The overall budget outlook remains positive, reflecting growth in the state economy and billions of dollars in new revenue. Education continues to be one of the major beneficiaries of this increased revenue with Proposition 98 funding climbing to $78.3 billion, an increase of $3.1 billion. Despite the increased funding, California still ranks low in K-12 per pupil spending nationally and several critical programs have not yet been restored from recession era cuts. The Legislative Analyst’s Office believes that state’s revenues will be higher than the governor is projecting, and the budget does not account for the impact to California from the recently passed federal tax legislation.
January 10, 2018
Gov. Brown proposes to fully fund the K-12 system’s Local Control Funding Formula in 2018-19 – two years ahead of schedule. Although the state is projected to have a healthy surplus due to unexpected strong tax revenues, the governor remained true to form by continuing his prudent fiscal approach and allocating surplus dollars to the state’s rainy day fund, proposing to fully fund it in 2018-19.